What is BitLake? Is BitLake.biz a Scam or a Legit?

Are you searching for the BitLake reviews in order to find out what is Bit Lake in real?


Well, then the answer is;


Bit Lake is an illegal company. Any expert in online work industry clearly can see that BitLake is a Ponzi Pyramid hybrid which is neither a legal nor a sustainable. If you don't know what is Ponzi and Pyramid scheme, then you can find the details by clicking the following respective links:-


Detail on Ponzi scheme:- newsonlineincome.com/ponzi-scheme/

Detail on Pyramid scheme:- newsonlineincome.com/2017/03/06/what-is-pyramid-scheme/


So, if you are searching for the Bit Lake reviews in order to find out either is BitLake a scam or a legit, then the answer is; Bit Lake is an upcoming scam, which means it is paying at the moment, but will stop paying soon in the future and many members will lose their money from this site. That is why we have listed BitLake within our Not Recommended sites list. You can find more details on BitLake.biz such as, why BitLake is a Ponzi Pyramid hybrid, why it is an upcoming scam and so on within our BitLake review as below. But, if this short information on BitLake is already enough for you and now instead of finding out more details on BitLake, if you want to find out the real opportunities to make money online, then you can click this link:- newsonlineincome.com/legitimate-work-home-businesses/


We also like to mention that among all kinds of online work companies, Wealthy Affiliate is our No.1 recommendation. If you don't know what is Wealthy Affiliate, then you can find the details by clicking this link:- newsonlineincome.com/wealthy-affiliate-review/


OK, now let's begin with our Bit Lake review in detail as below to find out what is BitLake.biz in real.

BitLake.biz reviews. Is Bit Lake a scam or a legit? BitLake complaints. BitLake.biz review. Is BitLake legit or not?

BitLake login and join in link:- https:// bitlake. biz/ (Not Recommended to join)

What is BitLake and why we don't recommend it?

Aforementioned, it is clear that BitLake is a combination of two illegal schemes, known as a Ponzi and Pyramid which can't be sustain for long run. So, that is already enough reason for us not to recommend it. But, may be you are thinking how we can be so sure that it is a Ponzi Pyramid hybrid. If so, then you can find the proof and explanation which proves it is a Ponzi Pyramid hybrid as below.


1. Unclear owner details:-

None of the legit sites hide their owner details. In online work and business industry, only scam sites have been found to be hiding their owner details. So, we first of all tried to find out who and from where is operating BitLake. But, we didn't find any information about the owner within the official website of BitLake. Then we checked the WHOIS details of BitLake.biz and there also we didn't find any information about the owner of the BiLake, neither the address of the company because they have hide those informations within WHOIS details. On top of that, other details which we have found from the WHOIS of BitLake.biz matches with other lots of similar kinds of scam sites which were already shutdown without paying their members. So, that proves that BitLake is from the same group who were running those scam sites in the past. Actually, hiding the owner details and company address itself proves the intention of owner is not good. In online work and business industry, only those owners hide themselves who have linked with scam companies in the past or have intention of scamming people in the future.


2. UK Companies House registration:-

Instead of providing the owner details, BitLake has provided the registration document from UK Companies House, the tactics which lots of scam sites are using to make people confuse. It is not a big deal to register company in UK Companies House, even that registration is not the license to run an investment company like BitLake, but is just a license for tax purpose. Even we can register company in UK Companies House just by paying 20 GBP and for that even no need to provide real details. We can just rent an address from any virtual address services and provide that address to register company in UK Companies House. If you check the address provided by BitLake, then you will find out that is not their real official address, but is an address from virtual address services. More than that, there were tons of companies in the past who used to have such registration document, but later on turned into scam and nobody able to catch them for scamming people, which proves that having such document can't stop anyone from scamming people.


3. Why BitLake is a Ponzi scheme and Pyramid scheme?

BitLake is a Ponzi scheme because it offers to pay back upto 15% daily forever on the investment amount of the members, but failed to provide the real proof of income source from where they can make such profit to pay back their members. Yep, they have claimed that they can make such amount of profit constantly from Bitcoin Trading and Foreign Exchange. But, that is completely a bogus claim and even they failed to provide the proof of that trading. None of the Bitcoin traders or Foreign exchangers ever can guarantee any fixed rate of return. Even if we agree they really can make such amount of profit, then also why they need to collect the investment from several people and pay them upto 15% daily profit and that is also forever instead of taking loan from a bank in much more lower rate, less than 1% monthly and use that money to multiply the profit? If they pay 1% monthly interest rate to the bank instead of paying 15% daily to several investors, they can make much more profit for themselves. So, why aren't they doing that? Simply because they are lying about everything. They are just paying one member using the money invested by another member. So, each time they pay to their members, they create a debt into the system and ultimately collapse. However, they will not wait till the company collapse. They will only pay few members at starting only to gain the trust of more people so that they can collect more investment from several people and run away with the big amount of money. That is why BitLake is a Ponzi scheme.


Bit Lake is also a Pyramid scheme because it offers referral commission upto 2 level downlines same like MLM (Multi Level Marking) companies, but on the sales of ROI Ponzi plans, not on the sales of any real products or services. So, any company which offers referral commission upto multi level downlines without selling any real products or services, that falls into an illegal scheme known as a Pyramid scheme.


That is why BitLake is a Ponzi Pyramid hybrid and that is the reason why we don't recommend it.


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Good Luck!